Exchange of Class B Common Stock. (a) From and after the Release Date, the Holder may, at any time and from time to time, deliver to the Company shares of Class B Common Stock owned by Holder (an “Exchange”), and, upon such delivery pursuant to Section 4.1 hereof but expressly subject to Section 4.2, the Company shall pay the Cash Purchase Price with respect to such Class B Common Stock so delivered. (b) Notwithstanding the provisions of Section 2.1(a), the Company may, at its sole and own election, pay to the Holder for Class B Common Shares so delivered the Share Purchase Price in lieu of all or a portion of the Cash Purchase Price.
Appears in 2 contracts
Sources: Exchange Agreement (Rouse Properties, Inc.), Exchange Agreement (Rouse Properties, Inc.)